The Northern Territory Government has announced it will not be moving to introduce a gas reservation policy, saying that to do so would stifle business and reduce investment opportunity.

“We must ensure our jurisdiction is desirable for investment,” Territory Chief Minister Adam Giles said.

“Onshore gas exploration is speeding up and the potential in the Territory is remarkable.

“We will not be imposing a blanket gas reservation policy on the industry.

“Business and Government can achieve mutually desirable goals provided businesses are willing to invest.”